July 13 (Reuters) - Futures pointed to a higher start for Canada’s main stock index on Wednesday ahead of the Bank of Canada’s quarterly monetary policy report.
The Bank of Canada is expected to keep interest rates unchanged as prices for oil, a major export, are yet to recover and there are risks to global economic growth after Britain’s shock vote to leave the European Union, according to a Reuters poll.
Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins will hold a press conference after the release of the monetary policy report.
September futures on the S&P TSX index were up 0.13 percent at 7:25 a.m. ET.
Thomson Reuters/Ipsos Primary Consumer Sentiment Index is due at 11:00 a.m. ET.
Canada’s main stock index notched its highest close in almost a year on Tuesday as shares of oil and gas producers surged along with crude prices and banking and industrial stocks.
Dow Jones Industrial Average e-mini futures were up 0.04 percent at 7:25 a.m. ET, while S&P 500 e-mini futures were up 0.06 percent and Nasdaq 100 e-mini futures were up 0.14 percent.
Media company Corus Entertainment Inc reported a bigger third-quarter loss as expenses soared.
Retailer Canadian Tire Corp reappointed Stephen Wetmore its chief executive, more than a year and a half after he left the top job.
State-controlled Petroleo Brasileiro SA will extend for 30 days an exclusive negotiation with Canada’s Brookfield Asset Management Inc over the sale of natural gas pipeline unit Nova Transportadora do Sudeste SA, the company said in a securities filing on Tuesday.
COMMODITIES AT 7:25 a.m. ET
Gold futures : $1,341.50; +0.55 pct
US crude : $46.14; -1.43 pct
Brent crude : $47.59; -1.82 pct
LME 3-month copper : $4,949.50; +1.62 pct
ANALYST RESEARCH HIGHLIGHTS
Agnico Eagle Mines : National Bank Financial raises price target to C$74.25 from C$68
Air Canada : CIBC cuts price target to C$12.25 from C$14
Cenovus Energy Inc : Barclays raises rating to “overweight” from “underweight”
U.S. ECONOMIC DATA DUE ON WEDNESDAY
0830 Import prices mm for Jun: Expected 0.5 pct; Prior 1.4 pct
0830 Export prices mm for Jun: Expected 0.4 pct; Prior 1.1 pct
1100 Thomson Reuters/Ipsos Primary Consumer Sentiment Index for Jun: Prior 57.70
1400 Federal Budget for June: Expected $24 bln; Prior -$53 bln
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.30) (Reporting by Nikhil Kumar in Bengaluru; Editing by Kirti Pandey)
Our Standards: The Thomson Reuters Trust Principles.